Canaccord Genuity Raises AtriCure (ATRC) Price Target to $35.00

Saturday, June 30 2018

Canaccord Genuity Raises AtriCure (ATRC) Price Target to $35.00

Posted by Craig McOrleans on Jun 30th, 2018 // No Comments
AtriCure (NASDAQ:ATRC) had its price target boosted by Canaccord Genuity from $27.00 to $35.00 in a report released on Wednesday. The brokerage currently has a buy rating on the medical device company’s stock.
ATRC has been the topic of several other research reports. Needham & Company LLC increased their price target on shares of AtriCure from $26.00 to $32.00 and gave the stock a buy rating in a research report on Monday, June 18th. Zacks Investment Research cut shares of AtriCure from a hold rating to a sell rating in a research report on Tuesday. Piper Jaffray Companies increased their price target on shares of AtriCure to $30.00 and gave the stock an overweight rating in a research report on Tuesday. BidaskClub raised shares of AtriCure from a hold rating to a buy rating in a research report on Saturday, March 17th. Finally, Stifel Nicolaus increased their price target on shares of AtriCure from $23.00 to $32.00 and gave the stock a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $30.80. Get AtriCure alerts:
Shares of AtriCure opened at $27.05 on Wednesday, Marketbeat Ratings reports. The company has a current ratio of 3.15, a quick ratio of 2.31 and a debt-to-equity ratio of 0.34. AtriCure has a one year low of $14.88 and a one year high of $30.96. The stock has a market cap of $962.55 million, a PE ratio of -32.59 and a beta of 0.24. AtriCure (NASDAQ:ATRC) last issued its quarterly earnings results on Thursday, April 26th. The medical device company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). AtriCure had a negative return on equity of 16.92% and a negative net margin of 14.88%. The company had revenue of $46.99 million for the quarter, compared to the consensus estimate of $45.43 million. During the same period in the previous year, the business posted ($0.32) EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. analysts anticipate that AtriCure will post -0.86 EPS for the current year.
In related news, Director Elizabeth D. Krell sold 10,000 shares of the stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $22.82, for a total transaction of $228,200.00. Following the sale, the director now owns 29,967 shares in the company, valued at $683,846.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink . Also, Director Mark A. Collar sold 2,090 shares of the stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $25.00, for a total transaction of $52,250.00. Following the sale, the director now owns 66,898 shares in the company, valued at approximately $1,672,450. The disclosure for this sale can be found here . 10.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATRC. Teacher Retirement System of Texas acquired a new stake in AtriCure during the fourth quarter worth about $203,000. Highbridge Capital Management LLC acquired a new stake in shares of AtriCure in the first quarter valued at approximately $208,000. Trexquant Investment LP acquired a new stake in shares of AtriCure in the first quarter valued at approximately $224,000. HBK Investments L P acquired a new stake in shares of AtriCure in the fourth quarter valued at approximately $255,000. Finally, JPMorgan Chase & Co. increased its stake in shares of AtriCure by 105.1% in the first quarter. JPMorgan Chase & Co. now owns 14,208 shares of the medical device company’s stock valued at $292,000 after purchasing an additional 7,281 shares during the period. Hedge funds and other institutional investors own 87.52% of the company’s stock.
About AtriCure
AtriCure, Inc provides atrial fibrillation solutions to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy; and EPi-Sense guided coagulation system used for the temporary cardiac signal sensing and recording during surgery. Receive News & Ratings for AtriCure analysts' ratings for AtriCure and related companies daily email newsletter .